Bailey stood in line for hours and purchased the new game system the day it became available for $600. knowing that there was a high demand for the game system and a limited supply, she decided to put the item on e-bay rather than keep it. she sold it for $950. she also sold her five-year old car for $5,000. she had purchased the car for $13,000. what is the taxable nature of these transactions?

Tiana daniels enterprise’s trial balance as at december 31, 2016 did not balance. on february 15, 2017 the following errors were detected: errorsi. water rates had been undercast by $2, 000.  ii. a cheque paid to yvonne walch of $2, 680 had been posted to the credit side of her account.  iii. discount received total of $1, 260 had been posted to the debit side of the discount allowed account as $1, 620.  iv. rent paid in the amount of $24, 000 had been posted to the credit of the rent received account.  v. wayne returned goods valuing $1, 680 to daniels enterprise but had been completely omitted from the books.    required: 1. prepare the journal entries to correct the errors.  (narrations required)                    14.5 marks  2.    prepare the suspense account showing clearly the original trial balance error.          8 marks

Fill in the missing words to correctly complete each sentence about analyzing a job posting. when reviewing a job posting, it’s important to check theto determine whether it’s worth your time to apply. if the post has been up for a while or it’s already closed, move on to the next position. if it’s still available, take note of when it closes so you’ll know when you mayfrom the company in regard to an interview.

Exercise 7-7 martinez company reports the following financial information before adjustments. dr. cr. accounts receivable $168,900 allowance for doubtful accounts $3,200 sales revenue (all on credit) 849,300 sales returns and allowances 50,440 prepare the journal entry to record bad debt expense assuming martinez company estimates bad debts at (a) 4% of accounts receivable and (b) 4% of accounts receivable but allowance for doubtful accounts had a $1,550 debit balance. (if no entry is required, select "no entry" for the account titles and enter 0 for the amounts. credit account titles are automatically indented when the amount is entered. do not indent manually.)